Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Miscellaneous Credits

Retirement Savings Contributions Credit

Eligibility Requirements

The retirement savings contributions credit is a nonrefundable credit eligible taxpayers may claim if they made a qualifying contribution to a retirement plan. If the contribution is tax deductible (such as a traditional IRA), the taxpayer receives the benefit of the tax deduction and a tax credit. This is considered a double benefit and is rarely allowed.

Eligibility for this credit is affected by adjusted gross income, filing status, age, whether the taxpayer can be claimed as a dependent, and being a full-time student. To determine if a taxpayer qualifies for the credit, conduct a probing interview guided by the Retirement Savings Contribution Credit — Decision Tree in the Volunteer Resource Guide, Nonrefundable Credits tab.

Retirement Savings Contribution Credit — Decision Tree.